Mount Lucas Management LP Buys 158 Shares of AppLovin Co. (NASDAQ:APP)

Mount Lucas Management LP raised its stake in shares of AppLovin Co. (NASDAQ:APP) by 2.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,717 shares of the company’s stock after purchasing an additional 158 shares during the period. Mount Lucas Management LP’s holdings in AppLovin were worth $877,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. HM Payson & Co. lifted its stake in shares of AppLovin by 50.0% in the 3rd quarter. HM Payson & Co. now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares during the period. Aptus Capital Advisors LLC lifted its stake in shares of AppLovin by 0.3% in the 3rd quarter. Aptus Capital Advisors LLC now owns 33,478 shares of the company’s stock valued at $4,371,000 after purchasing an additional 104 shares during the period. Ashton Thomas Securities LLC lifted its stake in shares of AppLovin by 2.6% in the 3rd quarter. Ashton Thomas Securities LLC now owns 4,797 shares of the company’s stock valued at $626,000 after purchasing an additional 121 shares during the period. GAMMA Investing LLC lifted its stake in shares of AppLovin by 8.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,665 shares of the company’s stock valued at $217,000 after purchasing an additional 126 shares during the period. Finally, American Trust lifted its stake in shares of AppLovin by 2.8% in the 1st quarter. American Trust now owns 5,550 shares of the company’s stock valued at $384,000 after purchasing an additional 150 shares during the period. 41.85% of the stock is owned by institutional investors.

Insider Activity

In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total transaction of $131,850.00. Following the completion of the transaction, the director now directly owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. This represents a 12.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total value of $17,132,918.64. Following the transaction, the chief marketing officer now directly owns 1,017,388 shares of the company’s stock, valued at approximately $291,115,402.32. This trade represents a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 235,542 shares of company stock valued at $32,012,275 over the last three months. Corporate insiders own 14.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on APP shares. Loop Capital boosted their price objective on AppLovin from $181.00 to $385.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Daiwa America raised AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. BTIG Research upped their price target on AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Benchmark reaffirmed a “sell” rating and set a $66.00 price target on shares of AppLovin in a research note on Thursday, November 7th. Finally, Oppenheimer upped their price target on AppLovin from $180.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, AppLovin currently has an average rating of “Moderate Buy” and a consensus target price of $194.31.

AppLovin Stock Performance

APP stock opened at $291.09 on Friday. The firm has a market cap of $97.30 billion, a PE ratio of 88.21, a P/E/G ratio of 3.49 and a beta of 1.86. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The business has a 50 day moving average of $159.14 and a 200-day moving average of $108.84. AppLovin Co. has a 12-month low of $35.79 and a 12-month high of $302.55.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.33. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. AppLovin’s quarterly revenue was up 38.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.30 earnings per share. As a group, sell-side analysts expect that AppLovin Co. will post 4.06 earnings per share for the current year.

About AppLovin

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.